Group Product Manager, Monzo
Core Banking
£115-140k
+Stock options
More information about location
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£115-140k
+Stock options
More information about location
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You’ve shipped world-class products at a fast growing company
- You have a track record of leading the development of market-leading value propositions that drive significant growth and engagement
- You’ve mentored (or managed) other PMs, have the ability to coach others, and can provide clear and constructive feedback to your team and other disciplines
- You're data-driven and commercial. You have a proven track record of making an impact through experimentation and optimization
- You can work effectively with a diverse range of people and working styles - spanning engineering, design, data, user research, marketing, legal and compliance - to get stuff done
- You’re able to motivate, energise and inspire people towards a common goal
- You’re passionate about building value for customers and not just achieving business results
- You’re intellectually honest about your work's performance, continually striving for improvement
- You can systematically break down and solve complex problems
- You’re able to make good decisions in complex situations where there’s often no “right answer”
- You have the urge and resilience to challenge the status quo and make things better, and are full of creative ideas for how to do so
- You’re a fast learner, humble and curious, and enjoy learning every day and sharing your knowledge and experience
- You’re excited by what we’re doing at Monzo, especially the current account
What the job involves
- As a PM you’ll lead a multi-disciplinary team to set big, ambitious goals for an entire product area, and have the freedom to decide how to meet them. You’ll operate with autonomy and have a massive impact on our customers’ lives and Monzo’s success
- We’re looking to hire a product Manager to join our Core Banking collective
- Core Banking is responsible for the current account used by 10 million customers. That includes creating compelling value propositions for different audiences (including Joint, Under 16s and 16 to 17 accounts), designing the overall app structure, the day-to-day money management experience (including features like Trends, Salary Sorter, Bills Pots, and more) and other value propositions like Travel
- The collective is also responsible for Subscriptions, which are paid upgrades that unlocks extra benefits and functionality that help customers make financial progress
- We’re now gearing up for our next phase of growth, from 10 million to 20 million customers
- As the Group Product Manager for Core Banking, you’ll ensure that we continue to meet and exceed the needs and expectations of our customers, and drive continued customer growth and engagement with Monzo
- You’ll be expected to own the strategy for your area, lead one product squad yourself (currently focused on Under 16s), and also manage one other PM with their own product squad
- That means you’ll:
- Create a product strategy for your area, balancing work to create long-term growth and engagement, and work to hit short-term targets
- Collaborate with engineering, design, data, user research and marketing to identify and validate new opportunities
- Lead the planning process and associated roadmap prioritisation ensuring alignment within the team and with wider business goals and objectives
- Create delightful experiences that solve user needs and pain points
- Work with cross-functional partners (engineering, design, data, user research and marketing) to ensure projects are delivered on time and as planned, as well as with legal, compliance and regulatory affairs where relevant
- Communicate effectively. You get people inspired by the product vision and you share the right context with the right people at the right time
- Manage one PM and lead them to do all of the above, in particular defining their product strategy, setting ambitious goals, and delivering against it
Application process
- Recruiter Call
- Initial Call with Hiring Manager
- Final Loop, consisting of x3 hour long interviews to assess Project Walkthrough, Case Study and Leadership
- A final stage with a VP or CPO within the Product team
- Our average process takes around 5-6 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us
Salary benchmarks
Our take
Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.
Monzo remains one of the popular online banks, with more than 6 million customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.
With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).
After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.
Kirsty
Company Specialist
Insights
Many candidates hear
back within 2 weeks
42% female employees
19% employee growth in 12 months
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$443.8m
LATE VC
Total funding: $1.9bn
Company benefits
- Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
- Flexible working hours
- Work From Home Opportunities + we'll pay for any equipment you need to do your job
- 24 days holiday a year, plus bank holidays
- Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
- Employee Assistance Programme
- Learning budget of £1,000 a year
- Aviva Pension Scheme + 4% Employer Contribution
- Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
- 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
- 3 months of secondary caregiver leave at 100% pay
- Unum Life Insurance
- Access to fertility and family-forming health benefits via Fertifa
- Abellio Season Travel Tickets + Cycle-to-Work Scheme
Company values
- Be hard on problems, not people 🙌 We create supportive communities to help people thrive.
- Make a difference 🚀 We solve real problems, working on things that have the biggest impact for our customers and each other.
- Help everyone belong 🤗 We’re building a bank for everyone. We embrace differences and make sure everyone feels welcome.
- Think customer first; grow Monzo safely 🥕 We always do what's best for customers. It's the right thing to do and the safest way to grow.
- Default to transparency 🎤 We’re open with each other and customers unless we have good reason not to be.
- Think big, start small, own it 🌲 We’re ambitious and shoot for the moon, working iteratively to get the best results.
Company HQ
City of London, London, UK
Articles
Leadership
Jonas Templestein
(CTO)Founder of HipDial. Former Software Engineer at Starling Bank.
People progressing
Joined in the Customer Operations team. Moved to be a Financial Crime Analyst after 5 months. Then moved again to be a Business Analyst after 2.5 years. Currently working as a Senior Product Manager.
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